Daily Current Affairs June 24 2023 | Latest News

 

CURRENT AFFAIRS : BANKING & FINANCE

Axis Bank launches One-View feature on its Mobile App

• One of the largest private sector banks, Axis Bank, launched its latest feature, ‘One-View’, on Axis Mobile Application.
• Axis Bank is the first private sector Bank to introduce this new-age banking feature leveraging the Account Aggregator (AA) ecosystem to create a seamless banking experience for its customers.
• This feature simplifies the process of managing finances for customers, by providing them access to multiple bank accounts on one single platform, enabling them to track their balances and spends on a real-time basis.

What is an Account Aggregator?

• Account Aggregator is a type of Reserve Bank of India (RBI) regulated framework that helps an individual securely and digitally access and share information from one financial institution they have an account with to any other regulated financial institution in the AA network.

Key benefits for the customers are:

• Seamless onboarding process to link their non-Axis Bank accounts in the Axis Mobile app
• A comprehensive view of their account balances and transaction statements across multiple bank accounts
• Eliminates the need to manage multiple mobile banking applications
• Allows customers to download and email transaction details from their linked accounts
• Customers can unlink any single or all non-Axis Bank accounts at their convenience

About Axis Bank :

• Established : 3 December 1993
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

IRDAI Expands Scope Of ‘Use And File’ Procedure For Life Insurance Products

• The Insurance Regulatory and Development Authority of India (IRDAI) introduced modifications to the existing ‘use and file’ procedure for life insurance products.
• These changes aim to facilitate the insurance industry in promoting insurance penetration.

Here are the key modifications and their implications for life insurers and policyholders.

Expansion Of Scope :

• The circular expands the scope of the ‘use and file’ procedure by including additional categories of life insurance products.

Combi Products:

• Combi products refer to insurance products where a life insurer acts as the lead insurer.
• Life insurers offering combi products must comply with the extant norms prescribed by IRDAI.

Dispensing With Segregated Fund Identification Number (SFIN) Clearance Process:

• The current SFIN clearance process by IRDAI is dispensed with.
• This includes complying with all prudential and exposure norms as per Regulation 9 of IRDAI (Investment) Regulations, 2016, as amended from time to time, for each segregated fund and the assets under management (AUMs) of unit-linked insurance plans (Ulips).

Addition Of New Unit Linked Funds:

• Once new funds are added to existing or new unit-linked products, they will be treated as existing funds for subsequent unit-linked products.

About IRDAI :

• Established : 1999
• Headquarters : Hyderabad, Telangana
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance industries in India.

RBI to conduct 4-day Variable Rate Repo auction for Rs 75000 crore

• The Reserve Bank of India (RBI) conducted a 4-day Variable Rate Repo (VRR) auction for a notified amount of Rs 75,000 crore.
• The reversal of these funds will take place on June 23, 2023.
• The RBI usually conducts the repo auction to inject liquidity in the banking system, when it narrows or turns into deficit mode.
• Banks’ tried to draw funds aggregating ₹75,695 crore from the RBI at the auction.
• The notified amount for the auction was ₹75,000 crore.
• They received funds aggregating ₹75,004 crore at the cut-off rate of 6.51%
• Last time, the RBI carried out the VRR auction on May 19, 2023.
• Banks drew funds aggregating ₹46,790 crore from the RBI at the cut-off rate of 6.51%.
• The notified amount was ₹50,000 crore.
• The liquidity in the market has come down from around ₹1.50-1.60 lakh crore to around ₹85,000 crore on 17 June 2023.
• The liquidity has come down mainly due to advance tax outflows of about ₹1.50-lakh crore.
• RBI’s target is to bring the call money rate to 6.50%.
• RBI will carry out Variable Rate Reverse Repo (VRRR) if call money trades around 6.25%.
• RBI will carry out VRR if call money trades at around 6.75%.

CURRENT AFFAIRS: NATIONAL NEWS

Union Government dismisses media reports of pensions being proposed by Centre for employees under NPS

• The Union Government dismissed media reports which have given details of pensions being proposed by the Centre for the Employees under the National Pension System (NPS).
• The Finance Ministry termed the reports as false.
• Committee, set up under the chairmanship of the Finance Secretary to review the NPS, is in the midst of its deliberations and in the process of consulting stakeholders.
• The Committee has not yet reached any conclusions.
• Media reports claimed that the Central Government is considering revising the current market-linked National Pension Scheme to provide its employees with a minimum pension of 40 percent to 45 percent of their last drawn salary.

Central Government Amends Electricity Rules, 2020 by Introducing ToD Tariff and Simplification of Smart Metering rules

• The Government of India has introduced two changes to the prevailing power tariff system, through an amendment to the Electricity (Rights of Consumers) Rules, 2020.
• The changes are: introduction of Time of Day (ToD) Tariff, and rationalization of smart metering provisions.

Introduction of Time of Day (ToD) Tariff

• Rather than being charged for electricity at the same rate at all times of the day, the price you pay for electricity will vary according to the time of day.
• Under the ToD Tariff system, Tariff during solar hours (duration of eight hours in a day as specified by the State Electricity Regulatory Commission) of the day shall be 10%-20% less than the normal tariff, while the tariff during peak hours will be 10 to 20 percent higher.
• ToD tariff would be applicable for Commercial and Industrial consumers having Maximum demand of 10 KW and above, from 1st April, 2024 and for all other consumers except agricultural consumers, latest from 1st April, 2025.
• Time of Day tariff shall be made effective immediately after installation of smart meters, for the consumers with smart meters.

BIS publishes Food Serving Utensils with an aim to reduce plastic pollution and promoting sustainability

• The Bureau of Indian Standards has published – Food Serving Utensils Made from Agri By-Products – Specification, aimed at reducing plastic pollution and promoting sustainability.
• The standard provides comprehensive guidelines to manufacturers and consumers, ensuring uniformity in quality requirements across the country.
• Consumer Affairs Ministry said, the implementation of this standard has extensive advantages as using biodegradable agri by-product utensils can contribute towards environmental safety, conserve natural resources, and promote a circular economy.
• The rising use of disposable tableware worldwide is driving the global market for disposable tableware.
• The disposable plate market size was valued at 4.26 Billion dollars in 2020 and is projected to reach 6.73 Billion dollars by 2028.
• In India, numerous large-scale and Micro, Small, and Medium Enterprises level manufacturers are actively contributing to the production of biodegradable cutlery, and they stand to benefit immensely from this Standard.
• The demand for these products is consistently rising, leading to a steady growth in the number of manufacturers involved in their production.

CURRENT AFFAIRS : STATE NEWS

Karnataka government launched ‘Brand Bengaluru’ portal to seek suggestions from citizens to improve city

• The Karnataka Deputy Chief Minister (CM) & Bengaluru Development Minister Shri DK Shivakumar launched a portal for people to share suggestions regarding the development of the city, under the title ‘Brand Bengaluru’.
• The public can visit https://brandbengaluru.karnataka.gov.in/or contact the WhatsApp number 9480685700 to provide their suggestions until June 30, 2023.
• Deputy chief minister and Bengaluru development minister DK Shivakumar, who recently met industry leaders, announced plans to create a master plan for Bengaluru within 6 months.
• During the meeting, several suggestions were made, including expediting Metro and suburban rail projects, accelerating the Peripheral Ring Road construction, converting NICE Road into a ring road, building tunnel roads, satellite cities, , to reduce traffic congestion.

About Karnataka :

• Governor: Thawar Chand Gehlot
• Chief minister: Siddaramaiah
• Capital: Bengaluru
• National Park : Bandipur NP, Kudremukh NP, Bannerghata NPRajiv Gandhi NP
• Wildlife Sanctuaries : B R Hills Wildlife Sanctuary, Cauvery Wildlife Sanctuary, Gudavi Bird Sanctuary, Bhadra Wildlife Sanctuary
• Tiger Reserve : Nagarahole Tiger Reserve, Bhadra Tiger Reserve
• Festival : Hampi, Mahamastakabhisheka (Shravanabelagola)
• Dance : Yakshagana, Dollu Kunitha, Bolak-aat (Bolak Dance)

CURRENT AFFAIRS: BUSINESS NEWS

American chipmaker Micron to invest 825 million dollars to build Chip Assembly and Testing Facility in Gujarat

• American chipmaker Micron will invest 825 million dollars to build Chip Assembly and Testing Facility in
• The combined investment by Macron and Centre and Gujarat government will amount to 2.75 billion dollars.
• Micron said in a statement that phased construction of the new assembly and test facility in Gujarat is expected to begin this year itself.
• Phase 1, which will include five lakh square feet of planned cleanroom space, will start to become operational in late 2024 and Micron will ramp capacity gradually over time in line with global demand trends.
• This move will create up to five thousand new direct Micron jobs and 15 thousand community jobs over the next several years.
• Micron will receive 50 percent fiscal support for the total project cost from the Indian government and incentives representing 20 per cent of the total project cost from the Gujarat government.
• Electronics and IT Minister Ashwini Vaishnaw said Micron’s investment to set up assembly and test manufacturing in India will fundamentally transform India’s semiconductor landscape and generate tens of thousands of high-tech and construction jobs.
• Union Minister Rajeev Chandrasekhar today said that the India-US partnership on critical emerging technologies including semiconductors, artificial intelligence, quantum and high-performance computers will create at least 80 thousand jobs.

Rupee appreciates nine paise, to close at 81.95 against US dollar

• In the forex market, the rupee appreciated nine paise to close at 81 rupees and 95 paise against the US dollar.
• The dollar index, which indicates the US currency’s strength against a basket of six other leading currencies, was at 101.95 in intra-day trade.

Fitch Ratings raises India’s economic growth forecast to 6.3 percent for current fiscal year

• Fitch Ratings has raised India’s GDP forecast to 6.3 percent from 6 percent for current fiscal year(2023).
• This is primarily because of a stronger out-turn in the first quarter and near-term momentum.
• Fitch said that the GDP growth in January-March was higher than expected and there has been a recovery in manufacturing, a boost from construction and an increase in farm output.
• The rating agency has estimated a growth of 6.5 per cent each for 2024-25 and 2025-26 financial years.

CURRENT AFFAIRS: AWARDS AND HONOURS

President Droupadi Murmu confers National Florence Nightingale Awards 2022-2023 to nursing professionalsz

• President Droupadi Murmu Conferred the National Florence Nightingale Awards for the years 2022 and 2023 to the nursing professionals at the Rashtrapati Bhavan.
• Thirty nursing professionals were awarded the prestigious award for their dedication, duty and service to the community
• On the occasion, Health and Family Welfare Minister Dr Mansukh Mandaviya briefed President Murmu about the progress of Pradhan Mantri TB Mukt Abhiyaan.
• He expressed gratitude for her leadership in the country-wide campaign which has seen people from various walks of life and regions come forth in a spirit of enthusiasm and community service to support lakhs of TB patients.
• Dr Mandaviya said, Prime Minister Narendra Modi has highlighted the Abhiyaan and the Ni-Akshay Mitra initiative during his last Mann Ki Baat programme.
• India has set a target of eradicating TB by 2025.
• Thousands of people are adopting TB patients in rural areas.
• the Government will soon begin a special campaign to eliminate sickle cell anaemia across the country
• The special mission to eliminate sickle cell anaemia by 2047 was announced in the Union Budget 2023-24.
• It will entail awareness creation, universal screening and counselling of seven crore people in the age group of up to 40 years in affected tribal areas.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Indian Railways signed MoU with USAID/India

• Indian Railways (IR) is proactively working towards the achievement of Net Zero Carbon Emission by 2030.
• IR has strategized multipronged approach.
• As part of its commitment to reduce carbon footprints, Indian Railways is taking several initiatives.
• In line with this, a Memorandum of Understanding (MoU) was signed between Indian Railways, Government of India and United States Agency for International Development/India (USAID/India) for collaboration on Renewable energy and Energy Efficiency.
• The MoU was signed by Shri Naveen Gulati, Member (Traction and Rolling Stock), Railway Board, Indian Railways and Ms. Isabel Coleman, Deputy Administrator, USAID, in the presence of Sh. Anil Kumar Lahoti, Chairman & CEO, Railway Board.
• USAID is an agency of the U.S. Government that supports international development and advances its Mission objectives by supporting economic growth, agriculture and trade, clean energy, climate change mitigation and adaptation, global health, democracy and conflict mitigation and management, and humanitarian assistance.
• Through MoU, technical assistance and support would be provided to Indian Railways. The MoU broadly includes but not limited to the following areas:-

1. Long-term energy planning including clean energy for Indian Railways.
2. Develop an Energy Efficiency Policy and Action Plan for IR Buildings.
3. Planning for clean energy procurement to achieve Indian Railways’ net-zero vision.
4. Technical support for addressing regulatory and implementation barriers.
5. Bid design and bid management support for system-friendly, large-scale renewable procurement.
6. Supporting Indian Railways in the promotion of e-mobility.
7. Collaboratively host events, conferences, and capacity-building programs in the mentioned identified areas including field visits and study tours (domestic/international).

• The collaboration of Indian Railways with USAID, India will go a long way in helping Indian Railways to achieve Net Zero Carbon Emission by 2030.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Finland Parliament elects conservative leader Petteri Orpo as New Prime Minister

• Petteri Orpo, the leader of the conservative party in Finland, has been elected as the country’s prime minister by the parliament.
• Parliament voted in favour of Orpo, who won the April elections and has been in thorny negotiations to build a coalition since then, with 107 in favour, 81 opposed and 11 absent.
• Orpo is the leader of the conservative party in Finland.
• He was formally appointed as prime minister by President Sauli Niinisto.
• He took over from Sanna Marin, whose Social Democrats finished third behind Orpo’s National Coalition Party (NCP) and the Finns Party.
• In addition to the NCP and the Finns Party, the new coalition is made up of the smaller Swedish People’s Party (RKP) and the Christian Democrats.

About Petteri Orpo :

• Antti Petteri Orpo was born on 3 November 1969 in Köyliö, Finland.
• He served as Deputy Prime Minister of Finland from 2017 to 2019, Minister of Finance from 2016 to 2019, Minister of the Interior from 2015 to 2016 and Minister of Agriculture and Forestry from 2014 to 2015.

About Finland :

• President : Sauli Niinistö
• Prime Minister : Petteri Orpo
• Capital : Helsinki
• Currency : Euro

Former Finance Secretary Hasmukh Adhia Appointed as Chairman of GIFT City

• Senior retired bureaucrat and former Union Finance Secretary & Revenue Secretary, Hasmukh Adhia, has been appointed Chairman of Gujarat International Finance Tec-City (GIFT City), the entity responsible for developing India’s first smart city Gujarat International Finance-Tec City in Gandhinagar.
• As GIFT City Chairman, Adhia replaces Sudhir Mankad, former chief secretary of Gujarat.
• Besides GIFT City, Adhia has also been appointed Director and Chairman of the boards of State public sector undertakings Gujarat Alkalies & Chemicals Ltd (GACL) and Gujarat Mineral Development Corporation Ltd (GMDC) with immediate effect
• The appointments are as non-executive chairman.

About Hasmukh Adhia :

• Adhia is the Gujarat cadre Indian Administrative Service (IAS) officer of the 1981 batch.
• He serves as an advisor to the Gujarat Chief Minister (CM) Shri Bhupendra Patel.
• He was part of the panel appointed by the Gujarat government to recommend measures for the post-Covid economic revival of the State.
• He serves as a member of the Board of Governors of the Indian Institute of Management Bangalore.
• He also serves as Vice-President in Gujarat Energy Research and Management Institute (GERMI) and Pandit Deendayal Energy University, Gandhinagar.
• At present Adhia is a non-executive Chairman of Bank of Baroda, and also the Chancellor of Central University of Gujarat.

About GIFT City :

• It is India’s first operational greenfield smart city and international financial services center, which the Government of Gujarat promoted as a greenfield project.

Retired Allahabad High Court Judge Umesh Kumar appointed as chairperson of Delhi Electricity Regulatory Commission

• “The President of India, in exercise of the powers conferred by Section 45(b) of the Government of National Capital Territory of Delhi (Amendment) Ordinance, 2023, read with sub-section 2 of Section 84 of the Electricity Act, 2003 has appointed Justice (Retd.) Umesh Kumar of Allahabad High Court as the Chairperson of the Delhi Electricity Regulatory Commission (DERC),”.
• The selection of Umesh as the Chairman of the DERC follows the withdrawal of Justice (Retd) Rajeev Kumar Shrivastava from the Madhya Pradesh High Court, who had been previously proposed for the position.
• He served as the justice of Allahabad High Court till July 2022.

Kamal Kishore Chatiwal appointed as managing director of IGL                                         

• Kamal Kishore Chatiwal has been appointed as the new managing director (MD) of Indraprastha Gas Ltd. (IGL)
• He has succeeded Sanjay Kumar, who has taken over as Director (Marketing) in GAIL (India) Limited.
• As the new MD, Kamal Kishore Chatiwal will oversee the strategic direction and operations of IGL, ensuring the company’s commitment to providing clean and sustainable energy solutions to customers.

About Kamal Kishore Chatiwal :

• Chatiwal had joined GAIL (India) Ltd in 1990.
• He was associated with the execution and commissioning of GAIL’s first petrochemical plant at Pata in Uttar Pradesh, first LPG recovery plant at Vijaipur and grass-root petrochemical complex at Lepetkata, Assam.
• Before joining IGL, he was working as executive director (ED) and head of zonal marketing of GAIL in Jaipur, Rajasthan

About IGL :

• Established : 1998
• Headquarters : New Delhi, Delhi, India
• Indraprastha Gas Limited is a leading Indian natural gas distribution company that supplies natural gas for cooking and as a vehicle fue.
• It is a joint venture between GAIL and Bharat Petroleum Corporation Limited (BPCL), in which the Delhi government holds a 5% stake.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

HDFC sells 90% stake in HDFC Credila to PE firms for Rs 9,060 crores

• Housing Development Finance Corp Ltd (HDFC) has sold 90% of its total stake in its subsidiary HDFC Credila Financial Services Ltd to a consortium of Baring PE (BPEA) and ChrysCapital for Rs 9,060 crores.
• The sale of HDFC Credila, the education loan arm of the Housing Development and Finance Corporation (HDFC), comes ahead of the completion of HDFC’s merger with HDFC Bank.
• In April,2023 the Reserve Bank of India (RBI) had asked HDFC to reduce its stake in Credila to under 10 per cent over the next two years.
• The total revenue of HDFC Credila during the 2022-23 fiscal was Rs 1,352.18 crore and its net worth as on March 31, 2023, was Rs 2,435.09 crore.
• The PE consortium includes Kopvoorn B.V., Moss Investments Ltd, Defati Investments Holding B.V. and Infinity Partners.
• Kopvoorn BV is part of the BPEA EQT group, and Moss Investments, Defati Investments Holding B.V. and Infinity Partners are part of the ChrysCapital group.

About HDFC :

• Established : 1977
• Headquarters : Mumbai, Maharashtra, India

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Institute of Toxicology Research developed haemoglobin self test kit  

• The Council of Scientific and Industrial Research (CSIR)-Indian Institute of Toxicology Research (IITR) has developed an indigenous innovative rapid haemoglobin detection test kit called ‘SenzHb’.
• It is a paper-based kit that gives results in just 30 seconds & costs just Rs 10 for a test.
• Similar kits available in the market are expensive, do not give accurate results and are also not ‘Made in India’.

About ‘SenzHb’ :

• SenzHb is economical and easy to use as compared to testing facilities available in the market.
• This paper-based, colorimetric strip-type sensor from SenzHb addresses these challenges by providing a rapid and reliable haemoglobin assay.
• All that has to be done during the test is to prick with the help of the needle that comes with the strip and then drop blood on the strip.
• As soon the strip colour changes, match it with the ‘changed colour guidelines’ given along with the kit.
• The results can help to know whether he or she is anaemic or not.
• “Also, this kit incorporates a QR code that provides detailed instructions for conducting the test in 8 languages.
• The QR code also includes a colour chart, further simplifying the interpretation of results,”
• It is a point-of-care test (POCT) kit that can be used by healthcare workers, even in the absence of advanced laboratory facilities.
• Its simplicity and user-friendly design enables efficient and accurate haemoglobin estimation.

About CSIR-IITR :

• Established : 1965
• Headquarters : Lucknow, Uttar Pradesh, India
• Director : Dr. Bhaskar Narayan

CURRENT AFFAIRS: SPORTS NEWS

At the Special Olympics World Games 2023 in Berlin, Germany, India added 21 medals

• At the Special Olympics World Games 2023 in Berlin, Germany, India added 21 medals to their overnight tally to take it to 76 (26 gold, 30 silver, 20 bronze) by the end of the action.
• In Judo, Suhalia Parveen won silver, to notch India’s first medal in the event at the Games.
• Ranveer Saini, Rahul Agarwal and Ankush Saha, who claimed a gold medal in the Level 1 Golf event, showed patience to win gold medals at the Special Olympics World Games 2023 as the medal rush continued for India at the event.
• Ranveer and Rahul won the gold by a record-breaking margin of 18 shots.
• In powerlifting, the medals came unabated, the sport has accounted for 20 medals already. V. Harish and Siya Sarode added four gold medals to that tally.
• The former won gold medals in the squat, bench press and combined events while the latter won gold in squat.
• Not too far behind is roller skating with 17 medals.
• Angelina Mary Poussin, unlucky to miss out on a medal in the 500m, won silver in the 100m to get on the podium.

CURRENT AFFAIRS : OBITUARIES

Creator Of Iconic ‘Amul Girl’ Campaign Sylvester daCunha Passed away 

• Advertising industry veteran & the creator of the iconic ‘Amul Girl’ campaign that started in the 1960s, Sylvester daCunha, Passed away at the age of 80.
• The ad campaign was launched in 1966 after it was designed by daCunha, who was the then Managing Director of the advertising agency ASP and its art director Eustace Fernandes.
• Sylvester daCunha conceived the ‘Utterly Butterly’ campaign for Amul, the brand owned by Gujarat Co-operative Milk Marketing Federation (GCMMF), in 1966 which introduced the ‘Amul Girl’ to the world which continues even today.

About Amul :

• Founded : 14 December 1946
• Headquarters : Anand, Gujarat
• Managing Director : Jayen MehtaJayen Mehta
• Amul, a dairy co-operative based in the western state of Gujarat, is one of the largest milk producers in the world.
• It is under the ownership of Gujarat Cooperative Milk Marketing Federation Limited (GCMMF), Department of Cooperation, Government of Gujarat.

Daily CA One-Liner: June 24

• One of the largest private sector banks, Axis Bank, launched its latest feature, ‘One-View’, on Axis Mobile Application.
• The Insurance Regulatory and Development Authority of India (IRDAI) introduced modifications to the existing ‘use and file’ procedure for life insurance products.
• The Reserve Bank of India (RBI) conducted a 4-day Variable Rate Repo (VRR) auction for a notified amount of Rs 75,000 crores.
• The Government dismissed media reports which have given details of pensions being proposed by the Centre for the Employees under the National Pension System
• The Government of India has introduced two changes to the prevailing power tariff system, through an amendment to the Electricity (Rights of Consumers) Rules, 2020
• The Bureau of Indian Standards has published – Food Serving Utensils Made from Agri By-Products – Specification, aimed at reducing plastic pollution and promoting sustainability
• American chipmaker Micron will invest 825 million dollars to build Chip Assembly and Testing Facility in
• In the forex market, the rupee appreciated nine paise to close at 81 rupees and 95 paise against the US dollar
• Fitch Ratings has raised India’s GDP forecast to 6.3 percent from 6 percent for current fiscal year
• President Droupadi Murmu Conferred the National Florence Nightingale Awards for the years 2022 and 2023 to the nursing professionals at the Rashtrapati Bhavan
• Indian Railways (IR) is proactively working towards the achievement of Net Zero Carbon Emission by 2030
• At the Special Olympics World Games 2023 in Berlin, Germany, India added 21 medals to their overnight tally to take it to 76 (26 gold, 30 silver, 20 bronze) by the end of the action
• The Karnataka Deputy Chief Minister (CM) & Bengaluru Development Minister Shri DK Shivakumar launched a portal for people to share suggestions regarding the development of the city, under the title ‘Brand Bengaluru’.
• Petteri Orpo, the leader of the conservative party in Finland, has been elected as the country’s prime minister by the parliament.
• Senior retired bureaucrat and former Union Finance Secretary & Revenue Secretary, Hasmukh Adhia, has been appointed Chairman of Gujarat International Finance Tec-City (GIFT City), the entity responsible for developing India’s first smart city Gujarat International Finance-Tec City in Gandhinagar.
• “The President of India, in exercise of the powers conferred by Section 45(b) of the Government of National Capital Territory of Delhi (Amendment) Ordinance, 2023, read with sub-section 2 of Section 84 of the Electricity Act, 2003 has appointed Justice (Retd.) Umesh Kumar of Allahabad High Court as the Chairperson of the Delhi Electricity Regulatory Commission (DERC),”.
• Kamal Kishore Chatiwal has been appointed as the new managing director (MD) of Indraprastha Gas Ltd. (IGL)
• Housing Development Finance Corp Ltd (HDFC) has sold 90% of its total stake in its subsidiary HDFC Credila Financial Services Ltd to a consortium of Baring PE (BPEA) and ChrysCapital for Rs 9,060 crore.
• The Council of Scientific and Industrial Research (CSIR)-Indian Institute of Toxicology Research (IITR) has developed an indigenous innovative rapid haemoglobin detection test kit called ‘SenzHb’.
• Advertising industry veteran & the creator of the iconic ‘Amul Girl’ campaign that started in the 1960s, Sylvester daCunha, Passed away at the age of 80.